Pan-African and Middle Eastern reinsurance group Africa Specialty Risks (ASR) has opened a new office in Dubai.
The office, the company’s first in the Middle East, is located in the Dubai International Financial Centre and aims to strengthen ASR’s ties in the region, where it has been operating commercially since February 2022.
The company’s expansion in the Middle East is being led by Zouheb Azam, head of political violence and terrorism, who now also serves as senior executive officer for ASR Middle East.
Azam said: “The opening of our new office in DIFC represents an exciting next phase of growth. It positions us at the global crossroads for financial and insurance services and will enable ASR to deepen relationships with brokers, reinsurers and corporates in the region. Our office in Dubai will complement our existing operations and the progress we have made across Africa in developing tailored and comprehensive risk mitigation solutions for developing markets.”
ASR began underwriting in February 2021 and has since derisked projects and assets worth $23 billion. It operates in 14 countries in the Middle East and 49 in Africa.
With the opening of the office in Dubai, ASR is expanding its existing network of branches in London, Mauritius, Bermuda and Morocco. The company also hopes to improve customer service and cooperation with international business partners.
“Africa Specialty Risks Opens First Middle East Office in Dubai” was originally created and published by Investment Monitor, a brand of GlobalData.
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